Global media agency network, Aegis Group, has upgraded slightly its US and Asia forecast and has reduced the figures for the European market for 2002.
Announcing its first half results this morning, Aegis said that the strong upfront markets in the US have pointed toward the beginnings of a strengthening media sector there, whilst Europe, which entered the downturn six months after the US, is showing no signs of such a pick-up.
Analysts at ABN Amro say that this cautious message from Aegis reflects the lack of visibility media companies are currently subject to and is in line with comments from other agencies.
European growth has been reduced from -2.0% in the March forecasts to -2.7% in the new figures. North America is raised from -0.4% to 0.2%.
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